Half of motorists think charging loyal car insurance customers more should be illegal April 24, 2019 Fifty per cent of motorists think it should be illegal for insurers to charge existing customers more than new customers for the same cover, a new survey said today. The research by price comparison site Go Compare showed 61 per cent of participants felt insurers treat existing customers less favourably by charging those who renew [...]
New Aviva CEO shakes up leadership team to boost ‘commercial thinking’ April 24, 2019 Aviva’s new chief executive rang the changes among senior management today as he looks to offer more value to shareholders. Read more: Former Aviva boss pay halved in 2018 as insurers gets tough on bonuses Maurice Tulloch announced three fresh appointments at the insurer as he dumped the chief executive of its UK insurance arm, [...]
We are at the big data frontier – we’re going to need some rules April 23, 2019 We create data all the time, even if we don’t realise it. Whether from social media use, video-watching habits, satellite images, traffic flows, or location data from smart devices, companies are increasingly able to use this information to extrapolate trends and capitalise on behaviour patterns. This has driven change across many industries, but it’s of [...]
Cyber attacks mount but readiness levels wane April 23, 2019 Global corporate defences against cyber attacks have shown no improvement despite the losses from such incidents soaring, according to new findings from insurance giant Hiscox. Read more: Cybersecurity firm Avast reports boosted revenue growth More than three out of five firms across seven countries reported one or more attacks in the past 12 months, but [...]
UK financial services face talent crisis over social mobility and “boring” reputation April 21, 2019 The UK’s financial services sector is facing a talent crisis as would-be employees are put off by its reputation for being “boring”, a new survey has revealed. Research carried out by Big Four auditor KPMG showed 65 per cent of the UK population would not consider taking a job in the financial services sector. Read [...]
Mike Ashley among Debenhams shareholders wiped out April 18, 2019 By Graeme Evans from interactive investor. One of the most intriguing City soap operas is over for investors as lenders seize control of Debenhams. The fight for survival at Debenhams (LSE:DEB) stores goes on, but for investors the suspension of shares signalled the final act in a grim 13 years of stock market trading. The [...]
Supercharged: Moneysupermarket growth booms as energy price cap sees spike in switching April 18, 2019 Ofgem’s hike to the energy price cap helped to electrify Moneysupermarket in the first three months of the year as the number of households switching supplier reached record levels. Revenue in the firm’s home services segment, which includes energy switching, soared by a massive 70 per cent to £19.6m in the first quarter, it revealed this [...]
Lloyd’s of London partners with the Met to urge staff to become special constables to ‘manage difficult situations’ April 18, 2019 Insurance market Lloyd’s of London has partnered with the Metropolitan Police to encourage employees to become special constables. The 330-year-old market – embroiled in a sexual harassment scandal – has pledged to allow staff to volunteer on the streets of London during working hours. Read more: Lloyd's of London will ban drunk staff from the [...]
City Moves for 18 April 2019 – Who’s switching jobs at VGC Partners, TFoil and Lilium? April 18, 2019 Today's City Moves includes VGC Partners, TFoil and Lilium. VGC Partners London-based growth capital investor VGC Partners has appointed Andrew Lister as investment and portfolio director as the firm looks to invest from its £50m Fund II in high-growth consumer, media and technology businesses. Andrew joins from Marlin Equity Partners, where he spent over three years [...]
Brexit to place ‘considerable demands’ on City watchdog the FCA April 17, 2019 Brexit will continue to place “considerable demands” on the City watchdog, it said today as the regulator unveiled its plan for the coming year. The Financial Conduct Authority (FCA) unveiled its business plan for 2019-20 and said Britain’s departure from the EU would continue to dominate its attention. Read more: Government provides £200m for small [...]